LAHORE – After petrol, CNG Prices raised across Pakistan.
The price of CNG hiked by Rs3 per liter after the value of the US dollaragainst the rupee touched an all-time high of Rs151 on May 17.
Compressed natural gas (CNG) reached Rs82.79 per liter today (May 18) fromRs79.90 per liter.
According to All Pakistan CNG Association (APCNGA) President Captain (r)Shuja Anwar, CNG prices are linked to dollar rates so depreciation inPakistani currency has resulted in the hike of CNG price. “CNG price isdirectly connected to dollar’s price hence an increase is inevitable,” heexplained.
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On Friday, According to details, dollar was traded at Rs151 in the openmarket after gaining Rs4 against the rupee in the open market, whereas inthe interbank market it increased to around Rs149.
With the spike in the rate of US dollar, Pakistan’s foreign debt hasincreased by Rs800 billion with further rise in inflation being anticipatedby analysts.
